There are two main types of sinkhole insurance—sinkhole loss coverage and catastrophic ground collapse coverage. Here are the differences in coverage:

Sinkhole loss coverage: Sinkhole loss coverage is an insurance endorsement that typically covers man-made sinkholes, including those related to mining operations. It may or may not cover naturally occurring sinkholes.

Catastrophic ground collapse coverage: Catastrophic ground collapse coverage protects your home if it falls into a sinkhole and the foundation is damaged beyond repair. In order to qualify for catastrophic ground collapse coverage, your home must be condemned by a local government agency.

It is important to research your area and know whether or not you reside in a high-risk area that is prone to sinkholes and they pose a genuine threat to homeowners. And because they are so erratic, it is best to prepare for the worst and ensure your home and belongings, especially if you live in an area prone to sinkholes. And if you do, get sinkhole insurance.

In the event that a sinkhole damages your home property and you need help with the hassle of dealing with Sinkhole Insurance, reach out to us.

Talk to us today to learn more about Sinkhole insurance.